IDEAYA Biosciences Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

On July 28, 2023 IDEAYA Biosciences, Inc. (NASDAQ: IDYA), a precision medicine oncology company committed to the discovery and development of targeted therapeutics, reported that the Compensation Committee of IDEAYA’s Board of Directors granted non-qualified stock options to purchase an aggregate of 51,200 shares of the Company’s common stock to two newly hired employees (Press release, Ideaya Biosciences, JUL 28, 2023, View Source [SID1234633487]). The stock options were granted under the IDEAYA Biosciences, Inc. 2023 Employment Inducement Incentive Award Plan (2023 Inducement Plan) as an inducement material to such individuals’ entering into employment with IDEAYA in accordance with Nasdaq Listing Rule 5635(c)(4).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The 2023 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of IDEAYA, or following a bona fide period of non-employment, as an inducement material to such individuals’ entering into employment with IDEAYA, pursuant to Nasdaq Listing Rule 5635(c)(4).

The stock options have an exercise price of $21.07 per share, which is equal to the closing price of IDEAYA’s common stock on The Nasdaq Global Select Market on the date of grant. The stock options have a 10-year term and will vest over four years, with 25% of the options vesting on the first anniversary of the vesting commencement date and the remaining 75% of the options vesting in equal monthly installments over the three years thereafter. Vesting of the stock options is subject to such employee’s continued service to IDEAYA on each vesting date.

AC Immune To Present At The BTIG Virtual Biotechnology Conference 2023

On July 28, 2023 AC Immune SA (NASDAQ: ACIU), a clinical-stage biopharmaceutical company pioneering precision medicine for neurodegenerative diseases, reported that Company Management will participate in a Fireside chat and one-on-one investor meetings during the BTIG Virtual Biotechnology Conference 2023, taking place on August 7-8, 2023 (Press release, AC Immune, JUL 28, 2023, View Source [SID1234633486]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

During the Fireside chat, Dr. Andrea Pfeifer, CEO of AC Immune SA, will discuss the Company’s clinical stage active immunotherapy pipeline to treat and, ultimately, prevent Alzheimer’s and other neurodegenerative diseases.

The live Fireside chat will take place on August 8, 2023, at 9:30 am (EDT) / 3:30 pm (CEST). AC Immune’s Management will take investor meetings on the same day. A replay will also be available through the BTIG Virtual Biotechnology Conference platform.

Merus Announces Two Clinical Abstracts on Zenocutuzumab (Zeno) in NRG1-fusion (NRG1+) non-small cell lung cancer (NSCLC) and Pancreatic Cancer (PDAC) Selected for Presentation at the ESMO Congress 2023

On July 28, 2023 Merus N.V. (Nasdaq: MRUS) (Merus, the Company, we, or our), a clinical-stage oncology company developing innovative, full-length multispecific antibodies (Biclonics and Triclonics), reported that two abstracts were selected for presentation at the European Society for Medical Oncology Congress (ESMO) (Free ESMO Whitepaper) 2023 (Press release, Merus, JUL 28, 2023, View Source [SID1234633485]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The presentations will highlight updated interim clinical data for the targeted bispecific antibody, zenocutuzumab (Zeno), with an abstract and oral presentation concerning NRG1 fusion positive (NRG1+) non-small cell lung cancer (NSCLC) and an abstract presentation concerning NRG1+ pancreatic ductal adenocarcinoma (PDAC). The abstracts will be presented at the ESMO (Free ESMO Whitepaper) Congress 2023 taking place in Madrid, Spain October 20-24, 2023.

Merus is currently enrolling patients into the phase 1/2 eNRGy trial to assess the safety and anti-tumor activity of Zeno monotherapy in NRG1+ cancer.

Title: Durable efficacy of zenocutuzumab, a HER2 x HER3 bispecific antibody, in advanced NRG1 fusion-positive (NRG1+) non-small cell lung cancer (NSCLC)
Speaker: Alison Schram
Mini Oral 1315MO
Lecture Time 9:35-9:40 CEST
Saturday, October 21

Title: Durable efficacy of zenocutuzumab, a HER2 x HER3 bispecific antibody, in advanced NRG1 fusion-positive (NRG1+) pancreatic ductal adenocarcinoma (PDAC)
Poster Session 1618P
Sunday, October 22

The full abstracts will be published online via the ESMO (Free ESMO Whitepaper) website at 00:05 CEST on Monday, October 16. They will be available concurrently on the Merus website.

About the eNRGy Clinical Trial
Merus is currently enrolling patients in the phase 1/2 eNRGy trial to assess the safety and anti-tumor activity of Zeno monotherapy in NRG1+ cancer. The eNRGy trial consists of three cohorts: NRG1+ pancreatic cancer; NRG1+ non-small cell lung cancer; and other NRG1+ cancer. Further details, including current trial sites, can be found at www.ClinicalTrials.gov and Merus’ trial website at www.nrg1.com or by calling 1-833-NRG-1234.

About Zeno
Zeno is an antibody-dependent cell-mediated cytotoxicity (ADCC)-enhanced Biclonics that utilizes the Merus Dock & Block mechanism to inhibit the neuregulin/HER3 tumor-signaling pathway in solid tumors with NRG1 fusions (NRG1+ cancer). Through its unique mechanism of binding to HER2 and potently blocking the interaction of HER3 with its ligand NRG1 or NRG1-fusion proteins, Zeno has the potential to be particularly effective against NRG1+ cancer. In preclinical studies, Zeno potently inhibits HER2/HER3 heterodimer formation thereby inhibiting oncogenic signaling pathways, leading to inhibition of tumor cell proliferation, and blocking tumor cell survival.

Press Release: Solid Q2 performance and strong pipeline momentum, Full-year 2023 business EPS guidance raised

On July 28, 2023 Sanofi reported Solid Q2 performance and strong pipeline momentum, Full-year 2023 business EPS guidance raised (Press release, Sanofi, JUL 28, 2023, View Source [SID1234633484]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Q2 2023 sales growth of 3.3% at CER and business EPS(1) growth of 8.1% at CER

Specialty Care grew 11.8% driven by Dupixent (€2,562 million, +34.2%) and Nexviazyme (€103 million, +146.5%) more than offsetting anticipated impact of Aubagio generic competition in the U.S.
Vaccines up 9.1% due to strong PPH vaccines sales in Rest of World region and COVID vaccine supply in Europe
General Medicines core assets grew 2.4%, non-core assets lower mainly due to Lantus (€353 million, -36.5%)
CHC sales growth continued (+0.7%) despite unfavorable effect from inventory build in the prior quarter
Business EPS(1) of €1.74 up 0.6% on a reported basis and 8.1% at CER
IFRS EPS of €1.15 (up 22.3%)
Key R&D milestones and regulatory achievements in Q2

Nirsevimab unanimous FDA AdCom vote for prevention of RSV lower respiratory tract disease in infants
Dupixent BOREAS Phase 3 COPD results presented at ATS and published in the New England Journal of Medicine
Itepekimab in COPD passed a recent interim futility analysis of the Phase 3 AERIFY studies
Amlitelimab positive Phase 2b data support potential for transformational target profile in Atopic Dermatitis
Frexalimab Phase 2b primary endpoint met demonstrating significantly reduced disease activity in MS
Vaccines pipeline moving at pace with 12 innovative assets with new data highlighted at a recent investor event
Progress on Corporate Social Responsibility strategy in Q2

Inclusivity targets implemented across clinical trial; 45% of U.S. trials achieved at least 1 target
B Corp Certification granted to CHC North America in recognition of environmental and social achievements
Full-year 2023 business EPS guidance revised upward

Sanofi now expects 2023 business EPS(1) to grow mid single-digit(2) at CER, barring unforeseen major adverse events. Applying average July 2023 exchange rates, the currency impact on 2023 business EPS is estimated between -6.5% to -7.5%. This upgrade includes approximately €400 million of expected one-off COVID vaccine revenues in the second half of the year.

Paul Hudson, Sanofi Chief Executive Officer, commented:

"We have delivered yet another quarter of growth, with Specialty Care and Vaccines as the main drivers. As we move into the second half our Play to Win strategy, we are particularly enthusiastic about the strong flow of positive R&D data readouts and regulatory achievements of this second quarter, highlighting the significant growth potential of our innovative pipeline assets. With the FDA approval of Beyfortus for the prevention of RSV in all infants in July, the landmark Phase 3 data in COPD with Dupixent, and the important clinical milestones with amlitelimab and frexalimab which support our decision to initiate pivotal trials, we expect to add multiple innovative medicines to our existing growth drivers over the coming years. As we enter the second half of 2023, we are executing on our new launches and we are encouraged by the early launch indicators of ALTUVIIIOTM and TZIELDTM, while navigating the anticipated impact from generic competition on Aubagio. Our strong results in the first six months make us confident in our outlook for the remainder of the year and as a consequence we are raising our full-year 2023 EPS guidance to mid single-digit growth."

Q2 2023 Change Change
at CER H1 2023 Change Change
at CER
IFRS net sales reported €9,965m -1.5% +3.3% €20,187m +2.0% +4.4%
IFRS net income reported €1,435m +22.1% _ €3,430m +7.7% —
IFRS EPS reported €1.15 +22.3% _ €2.74 +7.5% —
Free cash flow(3) €1,592m +3.7% _ €3,129m -3.5% —
Business operating income €2,726m -1.0% +6.6% €6,059m +4.1% +8.0%
Business net income(1) €2,177m +0.3% +8.0% €4,876m +6.1% +10.0%
Business EPS(1) €1.74 +0.6% +8.1% €3.90 +6.0% +9.8%

Changes in net sales are expressed at constant exchange rates (CER) unless otherwise indicated (definition in Appendix 9). (1) In order to facilitate an understanding of operational performance, Sanofi comments on the business net income statement. Business net income is a non-GAAP financial measure (definition in Appendix 9). The consolidated income statement for Q2 2023 is provided in Appendix 3 and a reconciliation of reported IFRS net income to business net income is set forth in Appendix 4; (2) 2022 business EPS was €8.26; (3) Free cash flow is a non-GAAP financial measure (definition in Appendix 9).

Merck Announces Phase 3 KEYNOTE-756 Trial Met Primary Endpoint of Pathological Complete Response (pCR) Rate in Patients With High-Risk, Early-Stage ER+/HER2- Breast Cancer

On July 28, 2023 Merck (NYSE: MRK), known as MSD outside of the United States and Canada, reported that the pivotal Phase 3 KEYNOTE-756 trial investigating KEYTRUDA, Merck’s anti-PD-1 therapy, in combination with chemotherapy met one of its dual primary endpoints of pathological complete response (pCR) rate following the neoadjuvant part of the neoadjuvant/adjuvant study regimen in patients with high-risk, early-stage estrogen receptor-positive, human epidermal growth factor receptor 2-negative (ER+/HER2-) breast cancer (Press release, Merck & Co, JUL 28, 2023, View Source;Breast-Cancer/?feedref=JjAwJuNHiystnCoBq_hl-SZsvSFSeS2k6e-jDETKtk7rEQumBjqILHhqiwHg7GoJnkvYMqDDYxFrLs-oQ2BHQ-mJCMFkCosC_NGzuJ8TW18j0KvNpL5ik-rnXyj1_o5vU-QF2vCj0ELWlPt_oGwViA== [SID1234633482]). At a prespecified interim analysis conducted by an independent Data Monitoring Committee (DMC), the KEYTRUDA-based regimen demonstrated a statistically significant improvement in pCR rate compared to neoadjuvant placebo plus chemotherapy. A pCR is defined as a lack of all signs of cancer in tissue samples analyzed following completion of neoadjuvant therapy and definitive surgery.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Based on the recommendation of the DMC, the trial will continue without changes to evaluate the other dual primary endpoint of event-free survival (EFS), per the trial design. The safety profile of KEYTRUDA in this trial was consistent with that observed in previously reported studies; no new safety signals were identified. Results will be presented at an upcoming medical meeting.

"This is the first positive Phase 3 study evaluating an immunotherapy-based regimen for patients with high-risk, early-stage ER-positive, HER2-negative breast cancer, and an important milestone in our efforts to advance research in early-stage breast cancer," said Dr. Gursel Aktan, vice president, global clinical development, Merck Research Laboratories. "We look forward to sharing the detailed results with the medical community and thank the patients and investigators for their important contributions to this study."

"While significant advancements have been made in the treatment of ER-positive, HER2-negative breast cancer, people diagnosed with high-risk disease as assessed by clinical and pathologic criteria typically have a worse prognosis and limited options before surgery," said Dr. Fatima Cardoso, director of the Breast Unit of the Champalimaud Clinical Centre, Lisbon, Portugal and co-principal investigator. "Data from KEYNOTE-756 suggest that adding pembrolizumab to neoadjuvant chemotherapy before surgery can significantly improve the pCR rate compared to neoadjuvant chemotherapy alone for people with high-risk, early-stage ER-positive, HER2-negative breast cancer."

"Worldwide, more than two million people are diagnosed with breast cancer each year, and it is critically important that breast cancer is found and treated early, especially for patients with high-risk disease," said Dr. Aditya Bardia, attending physician, medical oncology, Massachusetts General Hospital, director, breast cancer research, Massachusetts General Cancer Center, Associate professor, Harvard Medical School and co-principal investigator. "While we wait for event-free survival data, these initial pCR results provide a potentially encouraging signal and may have important therapeutic implications for patients with high-risk, early-stage ER-positive, HER2-negative breast cancer."

In the U.S., KEYTRUDA is approved for two indications for the treatment of patients with triple-negative breast cancer (TNBC). Based on results from KEYNOTE-522, KEYTRUDA is approved in combination with chemotherapy as neoadjuvant treatment, and then continued as a single agent as adjuvant treatment after surgery for patients with high-risk, early-stage TNBC. Based on results from KEYNOTE-355, KEYTRUDA is approved in combination with chemotherapy for the treatment of patients with locally recurrent unresectable or metastatic TNBC whose tumors express PD-L1 (combined positive score [CPS ≥10]) as determined by an FDA-approved test. In addition to the U.S., KEYNOTE-522 and KEYNOTE-355 supported the approvals of KEYTRUDA-based regimens for certain patients with high-risk early-stage TNBC and locally recurrent unresectable metastatic TNBC, respectively, in more than 90 countries around the world.

About KEYNOTE-756

KEYNOTE-756 is a randomized, double-blind Phase 3 trial (ClinicalTrials.gov, NCT03725059) evaluating KEYTRUDA in combination with chemotherapy as neoadjuvant treatment, followed by adjuvant treatment with KEYTRUDA plus endocrine therapy for the treatment of high-risk, early-stage ER+/HER2- breast cancer. The dual primary endpoints are pCR rate and EFS, and secondary endpoints include overall survival and safety. The trial enrolled 1,240 patients who were randomized 1:1 to receive:

KEYTRUDA (200 mg every three weeks [Q3W]) plus chemotherapy (paclitaxel weekly) for four cycles, followed by four additional cycles of KEYTRUDA in combination with chemotherapy (doxorubicin or epirubicin plus cyclophosphamide) as neoadjuvant therapy prior to surgery, followed by nine cycles of KEYTRUDA (Q3W) plus endocrine therapy (for up to 10 years) as adjuvant therapy post-surgery; or,
Placebo (Q3W) plus chemotherapy (paclitaxel weekly) for four cycles, followed by four additional cycles of placebo in combination with chemotherapy (doxorubicin or epirubicin plus cyclophosphamide) as neoadjuvant therapy prior to surgery, followed by nine cycles of placebo (Q3W) plus endocrine therapy (for up to 10 years) as adjuvant therapy post-surgery.
About breast cancer

Breast cancer is one of the leading causes of cancer-related death in women worldwide, with more than two million patients diagnosed and approximately 685,000 deaths from the disease globally in 2020. In the U.S., it is estimated there will be approximately 298,000 patients diagnosed with breast cancer and 43,700 deaths from the disease in 2023. The are many different types of breast cancer and various subtypes. Of all breast cancer patients, about 70% will be diagnosed with hormone receptor-positive, HER2-negative disease. Cancer recurrence following surgery for this type of cancer is most common within five years, and patients with high-risk features have a greater chance of recurrence.